Management and Board of Directors

The Company is managed by a group of seasoned payments experts, each of whom has significant experience in the electronic transaction processing industry.

Edward M. Craig, Jr. is the Company’s Chief Executive Officer, President, and Secretary, a founder of the company, and a member of its Board of Directors. Mr. Craig has more than 18 years experience in the electronic transaction processing industry. In 1987, Mr. Craig founded Electronic Merchant Services (“EMS”), where he developed the ECheck and the ECard, now offered by the Company. EMS, in August 1996, was acquired by Affinity Technology Group, Inc. (“Affinity”); a company based in Columbia, South Carolina, and became the Transaction Processing Services Division of Affinity. Mr. Craig joined Affinity at that time as director of operations of that division. In December 1998, the operating assets of the Transaction Processing Services Division were acquired by the Company. Prior to founding EMS, Mr. Craig served for 3 years as Executive Director of the South Carolina Merchants Association, and from 1979-1985 was employed by the American Petroleum Institute where he worked on retail and regulatory matters concerning the state of South Carolina.

Rebecca A. Burch is the Company’s Executive Vice President of Marketing and Sales, a founder of the company and a member of its Board of Directors. Ms. Burch has over 20 years of experience in the electronic transaction processing industry in sales, marketing, and client service. Prior to founding the Company, Ms. Burch had served since 1995 as Senior Vice President of Sales and Client Services of National City Processing (“NPC”), the world’s second largest processor of financial transactions. While at NPC, in addition to her management duties, Ms. Burch developed sales and support training programs and introduced procedures that streamlined electronic transaction processing procedures which were recognized at NPC for improving customer service. From 1983 to 1995, Ms. Burch held senior level sales management positions at MCI, British Telecom, and McDonnell Douglas in their respective transaction processing divisions. Prior to that, she was employed at Tymshare, a company that specialized in networking and computer timesharing. During her tenure at Tymshare, Ms. Burch was recognized for her role in developing and marketing the first Electronic Draft Capture (“EDC”) program in the United States, a program that replaced paper draft processing. In 1983, she implemented the first EDC program between Maryland Bank and Ritz Camera, an EDC program which has been a model for similar programs implemented by electronic transaction processors throughout the United States.

William C. Hammett, Jr. is a founder of the company and Chairman of the Board of Directors. For the last eight years, Mr. Hammett has served on the board of directors of Pegasus Systems, Inc. (Nasdaq:PEGS), (“Pegasus”), three of those years as its chairman. Pegasus operates technology companies involved in the administration of hotel reservations. These technology companies connect travel agents throughout the world with reservation systems of major hotels, including Marriott, Hyatt, and Holiday Inns. In addition to the processing of these reservations, the commissions earned by the travel agents are processed and paid by Pegasus on behalf of the member hotels. Pegasus also operates an on-line booking site, TravelWeb.com, which allows buyers to book hotel reservations directly via the Internet. Prior to founding the Company, Mr. Hammett, from 1992 until 1997, served as senior vice president and chief financial officer of La Quinta Inns, Inc. From 1988 until joining La Quinta Inns, Inc., Mr. Hammett held positions at Motel 6, G.P., Inc. (“Motel 6”), as its vice president and controller, and executive vice president and chief financial officer. Prior to joining Motel 6, Mr. Hammett spent 15 years with Spartan Food Systems, Inc., as its controller. Mr. Hammett began his business career with Price Waterhouse (now known as PricewaterhouseCoopers, LLP) in Charlotte, North Carolina, where he spent 5 years in its audit and tax departments.

Christopher McNulty is a member of the Board of Directors and a shareholder of the company. Mr McNulty has more than 17 years of payment industry experience and has played key roles in several leading banks and processing companies including National Processing Company (NPC). He has seen the evolution of the payment industry first hand as technology has evolved and needs of the merchant and bank customers have changed. His extensive experience gives him a broad view and understanding of the electronic merchant processing business. Much of his career has been spent in business development delivering solutions to all sizes and types of customers. He has built and managed many sales teams as well as focused on major account management and believes that developing strong relationships are at the core of every successful company.